Ghana Paid $40 Million for Armoured Vehicles Yet to Arrive — Finance Minister Confirms
- Ghana paid US$40 million for 19 armoured vehicles under a 2020 supplier credit deal, but none have been delivered.
- Finance Minister Dr Cassiel Ato Forson revealed the issue while presenting the 2026 Budget Statement in Parliament.
- Government is renegotiating the contract to safeguard public funds and prevent further losses.
Ghana’s Minister of Finance, Dr Cassiel Ato Forson, has disclosed that the country has paid US$40 million for the purchase of armoured military vehicles that have still not been delivered.
He made this revelation while presenting the 2026 Budget Statement in Parliament on November 13, 2025.
According to Dr Forson, the Akufo-Addo administration in 2020 entered into a supplier’s credit agreement worth US$80 million with ELBIT Systems Land Ltd, an Israeli defence company, for the procurement of 19 Armoured Personnel Carriers (APCs) and related defence systems.
However, despite half of the contract sum having been disbursed, no APCs have been received by the Ghana Armed Forces.
“Mr Speaker, sadly, despite the disbursement of US$40 million to the supplier, the Ghana Army has not received a single APC,” Dr Forson told Parliament.
He emphasized that the current government has initiated steps to safeguard public funds and prevent additional financial losses.
“In light of the significant payment already made and to prevent financial loss to the State, Government has taken steps to renegotiate the existing agreement with the supplier, which will be re-presented to Parliament for approval,” he explained.
Dr Forson added that the renegotiated terms will soon be laid before Parliament for consideration, ensuring better accountability and transparency in defence procurement.
